Common use of Rights and Privileges of Trustee Clause in Contracts

Rights and Privileges of Trustee. To the extent that this Deed of Trust or any of the other Loan Documents requires ▇▇▇▇▇▇▇▇ (also referred to in this Section 71 as “Grantor”) to indemnify Beneficiary or reimburse Beneficiary for any expenditures Beneficiary may incur in accordance with this Deed of Trust, Trustee shall be entitled to the same indemnity and the same rights to reimbursement of expenses as Beneficiary, subject to such limitations and conditions as would apply in the case of Beneficiary. To the extent that this Deed of Trust negates or limits Beneficiary’s liability as to any matter, Trustee shall be entitled to the same negation or limitation of liability. To the extent that Grantor, pursuant to this Deed of Trust, appoints Beneficiary as ▇▇▇▇▇▇▇’s attorney-in-fact for any purpose, Beneficiary or Trustee (when so instructed by Beneficiary) shall be entitled to act on Grantor’s behalf without joinder or confirmation by the other.

Appears in 2 contracts

Sources: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (NTS Realty Holdings Lp), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (NTS Realty Holdings Lp)